PureCycle Technologies, Inc. (NYSE:PCT) Given Average Rating of “Buy” by Analysts

Shares of PureCycle Technologies, Inc. (NYSE:PCTGet Rating) have earned an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $24.00.

PCT has been the topic of a number of research analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $16.00 price objective on shares of PureCycle Technologies in a research report on Thursday, April 14th. Craig Hallum lowered their price objective on shares of PureCycle Technologies from $26.00 to $18.00 in a research report on Thursday, March 10th.

PureCycle Technologies stock opened at $9.30 on Friday. The firm’s 50 day simple moving average is $8.30 and its 200-day simple moving average is $8.56. The company has a market cap of $1.52 billion, a P/E ratio of -14.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 19.10 and a quick ratio of 19.10. PureCycle Technologies has a fifty-two week low of $4.94 and a fifty-two week high of $27.92.

PureCycle Technologies (NYSE:PCTGet Rating) last released its earnings results on Tuesday, March 29th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.03. On average, analysts expect that PureCycle Technologies will post -0.65 EPS for the current fiscal year.

In other PureCycle Technologies news, Director Jeffrey Richard Fieler purchased 714,284 shares of the business’s stock in a transaction dated Thursday, March 17th. The shares were acquired at an average price of $7.00 per share, for a total transaction of $4,999,988.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider David Warner Brenner sold 225,000 shares of PureCycle Technologies stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $7.86, for a total transaction of $1,768,500.00. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sylebra Capital Ltd raised its holdings in PureCycle Technologies by 61.1% in the 1st quarter. Sylebra Capital Ltd now owns 29,193,256 shares of the company’s stock worth $233,546,000 after acquiring an additional 11,071,400 shares during the period. BlackRock Inc. grew its position in PureCycle Technologies by 4.6% in the 1st quarter. BlackRock Inc. now owns 3,805,550 shares of the company’s stock worth $30,445,000 after purchasing an additional 168,485 shares during the last quarter. Samlyn Capital LLC grew its position in PureCycle Technologies by 0.8% in the 4th quarter. Samlyn Capital LLC now owns 3,667,203 shares of the company’s stock worth $35,096,000 after purchasing an additional 28,864 shares during the last quarter. Atalan Capital Partners LP grew its position in PureCycle Technologies by 148.2% in the 1st quarter. Atalan Capital Partners LP now owns 2,392,243 shares of the company’s stock worth $19,138,000 after purchasing an additional 1,428,570 shares during the last quarter. Finally, Howard Hughes Medical Institute grew its position in PureCycle Technologies by 35.7% in the 1st quarter. Howard Hughes Medical Institute now owns 1,628,570 shares of the company’s stock worth $13,029,000 after purchasing an additional 428,570 shares during the last quarter. Hedge funds and other institutional investors own 40.86% of the company’s stock.

About PureCycle Technologies (Get Rating)

PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. The company was founded in 2015 and is headquartered in Orlando, Florida.

Further Reading

Analyst Recommendations for PureCycle Technologies (NYSE:PCT)

Receive News & Ratings for PureCycle Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PureCycle Technologies and related companies with MarketBeat.com's FREE daily email newsletter.